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Technical Analysis for DSHUSD for 12th January 2022

DASH Headwinds at Critical Resistance, Will Buys Blast above $160?



Past Performance of DASH

The DASH coin price ranges below $160 and above $120. Depending on the breakout direction, this could turn out as either a consolidation or a distribution. A break above $160 could be the beginning for the leg up towards November highs of $240—the immediate resistance line.


DASH Technical Analysis

The confirmation of January 5 losses at the back of high trading volumes indicates demand. The follow-through confirmation was compelling, drawing in further buyers. While risk-off DASHUSDT traders might be loading the dips, anticipating further gains towards $240, better opportunities exist once there is confirmation of last week's gains. If the breakout is with high trading volumes, DASH would likely surge to $240 in continuation of last week's gains and reversal of deep December 2021 losses. On the reverse side, rejection of higher highs below$160 would slow down optimistic traders.


What to Expect of DASH

There is a bear flag in the daily chart as DASHUSDT prices consolidate inside a $40 range. As aforementioned, a bullish breakout above the immediate liquidation line may be the required momentum for a surge to $240. If not, losses below $130 would be headwinds, slowing down progress and heaping more selling pressure on DASH.


Resistance level to watch: $160

Support level to watch: $120


Disclaimer: Opinions expressed are not investment advice. Do your research.

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